Research analysts at Canaccord Genuity started coverage on shares of AAR Corp. (NYSE:AIR) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “hold” rating on the aerospace company’s stock.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered AAR Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. BidaskClub raised AAR Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Finally, Noble Financial reaffirmed a “buy” rating on shares of AAR Corp. in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $46.80.

AAR Corp. (AIR) opened at 35.86 on Wednesday. AAR Corp. has a 12-month low of $26.51 and a 12-month high of $38.75. The stock’s 50 day moving average is $36.12 and its 200-day moving average is $35.00. The company has a market cap of $1.21 billion, a P/E ratio of 21.95 and a beta of 1.39.

AAR Corp. (NYSE:AIR) last announced its quarterly earnings data on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. AAR Corp. had a return on equity of 5.69% and a net margin of 3.20%. The company had revenue of $492.30 million for the quarter, compared to analyst estimates of $486.93 million. During the same quarter in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts predict that AAR Corp. will post $1.78 earnings per share for the current fiscal year.

AAR Corp. announced that its Board of Directors has approved a stock buyback program on Tuesday, July 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the aerospace company to buy up to 20.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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In other news, Director Ronald B. Woodard sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $37.22, for a total transaction of $744,400.00. Following the sale, the director now owns 20,073 shares of the company’s stock, valued at approximately $747,117.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert J. Regan sold 28,640 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $36.53, for a total value of $1,046,219.20. Following the sale, the vice president now directly owns 114,193 shares in the company, valued at approximately $4,171,470.29. The disclosure for this sale can be found here. Insiders have sold a total of 91,840 shares of company stock worth $3,401,115 in the last three months. Corporate insiders own 9.33% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of AAR Corp. during the 2nd quarter worth approximately $293,000. Piedmont Investment Advisors LLC purchased a new stake in shares of AAR Corp. during the 2nd quarter worth approximately $240,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of AAR Corp. by 14.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 19,216 shares of the aerospace company’s stock worth $658,000 after acquiring an additional 2,425 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of AAR Corp. during the 2nd quarter worth approximately $213,000. Finally, State Street Corp boosted its stake in shares of AAR Corp. by 1.6% during the 2nd quarter. State Street Corp now owns 1,119,196 shares of the aerospace company’s stock worth $38,901,000 after acquiring an additional 17,488 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.

AAR Corp. Company Profile

AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.

The Fly

Analyst Recommendations for AAR Corp. (NYSE:AIR)

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